Based on the panel data of 43 Jiangsu rural commercial banks from 2015 to 2018, this paper selects 14 indexes from three dimensions including inclusive finance permeability, business implementation and service quality, establishes an inclusive finance index from the institutional level, empirically tests how the promotion of inclusive finance affects the profitability of banks and the influence mechanism. On this basis, this paper discusses the moderating effect of digital transformation. The research results show that there is still a contradiction between financial inclusion and the profitability target of rural commercial banks, because the development of financial inclusion increases operating costs, which has a negative impact on the profitability of institutions. However, the digital transformation of rural commercial banks can effectively alleviate this negative effect and balance the relationship between financial inclusion and bank profitability. Finally, it puts forward suggestions to continuously promote the rural inclusive finance development, accelerate the digital transformation of rural commercial banks, and support the implementation of rural revitalization strategy.